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The financial services sector is forging new partnerships and adapting its product offerings to help investors expand their activities throughout Africa.

Mauritius is positioning itself to become an Africa-focused financial support centre, modelling itself on the role Singapore is playing in Southeast Asia.

Africa is the big opportunity over the next five to 10 years – everyone knows the macro story

The country is well established in the sector. It has a wide network of tax and investment protection treaties with African countries and it is a member of the Southern African Development Community (SADC) and the Common Market for Eastern and Southern Africa (COMESA). Read more

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Ford Motor Co announced 17 new vehicles for Sub-Saharan Africa on Thursday, as carmakers jostle for position in one of the last major markets where potential growth remains largely untapped.

The models, among 25 to be introduced by 2016 in a broader product offensive across the Middle East and Africa, draw on the U.S. auto giant’s global vehicle architectures to offer more up-to-date features for markets such as South Africa.

Middle East and Africa is the final frontier for global automotive growth

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Cloud Computing set for massive growth in SA & Kenya

Rapidly expanding bandwidth capacities, following the landing of undersea cables, have led to the proliferation of data centres and established a solid platform for the development of cloud computing services in South Africa and Kenya. Enterprises are steadily embracing outsourcing and managed services for various business and technological benefits, further driving migration to cloud computing.

New analysis from Frost & Sullivan, Overall Cloud Computing Market in South Africa and Kenya, finds that the market earned revenues of $114.6 million in 2013 and estimates this to reach $288.0 million in 2018. Software as a Service will become the most popular cloud computing platform. Read more

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The AU Commissioner for Economic Affairs, Anthony Maruping, told journalists in Malabo on Monday that the Fund would work to correct balances of payment positions across Africa.

He said such positions were mainly caused by low export of commodities and high import volumes which exerted negative burden on currency stability.

The AMF would be established to basically help to tackle macro-economic matters in Africa, he added.

By Premium Times

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Beijing — In July, nations known as the “BRICS,” Brazil, Russia, India, China and South Africa, announced the creation of a new, $100 billion development bank (NDB). The project is aimed at lending money to developing nations for investments, much like how the American and European-backed International Monetary Fund (IMF) and World Bank operate.

Liu Haifang, a professor at Peking University’s Center for African Studies, said the bank will provide developing countries with more options for financing.

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Maputo — “Your granary will never be filled by your neighbour.” This is a Mozambican saying that was used by Graca Michel, member of International Panel of Elders and a former Mozambican minister of education, to illustrate the point that Africa cannot rely on outside help to achieve food security. Read more